22 Mar Lift your savings today… for a healthier and stronger tomorrow
Announcing some important changes to KiwiSaver
The AMP KiwiSaver Scheme is a great way to save for your retirement or first home deposit and there are some exciting changes happening to KiwiSaver that could help you lift your savings.
New contribution rates
The big news is that from 1 April 2019, you’ll be able to put 6% or 10% of your salary into KiwiSaver, as well as the existing options of 3%, 4% or 8%. Your employer contributions will remain at 3%, unless your employer has agreed to a greater amount. Lifting by even a little could help you make extra gains and reach your savings goals faster.
Shorter savings break
KiwiSaver members who need to pause their KiwiSaver savings, can apply for what’s currently called a ‘contributions holiday’. At the moment, this can be up to five years, but from 1 April 2019, the maximum period will change to 12 months and will be renamed a ‘savings suspension’.